FedEx Corp.’s 4Q Income Rises to $730 Million
FedEx Corp. reported its fiscal fourth-quarter net income rose to $730 million, or $2.46 per share, from $679 million, or $2.13, a year ago.
Revenue for the quarter ended May 31 rose to $11.8 billion from $11.4 billion, the company said June 18.
The freight segment increased fourth-quarter operating income 51% to $122 million, and it reported revenue of $1.55 billion — a 12% increase from the same time last year.
The company said it acquired 9.9 million shares of FedEx common stock, increasing its fiscal 2014 purchase total to 36.8 million.
Full-year net income increased to $2.1 billion, or $6.75 per share, from $1.98 billion or $6.23 per share. Revenue increased to $45.6 billion from $44.3 billion a year ago.
“Fiscal 2014 was a good year for FedEx, and we expect fiscal 2015 to be even better,” Alan Graf, Jr., FedEx Corp. executive vice president and chief financial officer, said in a statement. “With continued modest economic improvement, our results in fiscal 2015 should benefit from base performance improvement and ongoing execution of our profit improvement initiatives at FedEx Express, continued profitable growth at FedEx Ground and FedEx Freight, and our share repurchase program.”
FedEx projected fiscal 2015 earnings of between $8.50 and $9 per share, assuming no net year-over-year fuel impact and continued moderate economic growth.
FedEx ranks No. 2 on the Transport Topics Top 100 listing of the largest U.S. and Canadian for-hire carriers.
